In the matter of Living Creatively Exhibitions Pty Ltd (in liquidation) (subject to deed of company arrangement) [2013] NSWSC 717

Supreme Court New South Wales

Medium Neutral Citation: In the matter of Living Creatively Exhibitions Pty Ltd (in liquidation) (subject to deed of company arrangement) [2013] NSWSC 717 Hearing dates: 13 May 2013, 20 May 2013 (supplementary oral submissions) Decision date: 04 June 2013 Jurisdiction: Equity Division - Corporations List Before: Black J Decision: If a specified undertaking is provided to the Court within seven days, an order will be made terminating the winding up. Catchwords: CORPORATIONS - winding up - order sought for termination of a winding up where company subject to a deed of company arrangement - whether company will be solvent - whether undertaking given to deed administrator sufficient to bring about solvency - undertaking to Court required. Legislation Cited: - Corporations Act 2001 (Cth) ss 439C, 482, 482(1), 482(1A), 482(2A), 482(4) Cases Cited: - Brolrik Pty Ltd v Sambah Holdings Pty Ltd [2001] NSWSC 1171; (2001) 40 ACSR 361 - Deputy Commissioner of Taxation, Re Directcorp Pty Ltd (in liq) v Directcorp Pty Ltd [2006] FCA 1020; (2006) 58 ACSR 398 - GIO Workers Compensation (NSW) Ltd v Advance International (Aust) Pty Ltd [2002] NSWSC 261 - Leveraged Equities Ltd v Hilldale Australia Pty Ltd [2008] NSWSC 190; (2008) 26 ACLC 182 - Mercy & Sons Pty Ltd v Wanari Pty Ltd [2000] NSWSC 756; (2000) 157 FLR 107; (2000) 35 ACSR 70 - Owners Strata Plan 70294 v LNL Global Enterprises Pty Ltd [2006] NSWSC 1386; (2006) 60 ACSR 646 - Re Data Homes Pty Ltd (in liq) [1972] 2 NSWLR 22 - Re Nardell Coal Corporation Pty Ltd [2004] NSWSC 292; (2006) 57 ACSR 103 - Re Pine Forests of Australia (Canberra) Pty Ltd [2010] NSWSC 1127 - Re SNL Group Pty Ltd (in liq) [2010] NSWSC 797 Category: Principal judgment Parties: Savluc Pty Limited (Plaintiff) Living Creatively Exhibitions Pty Limited (in liquidation) (subject to deed of company arrangement) Representation: Counsel: Mr G. Mackey (Plaintiff) Solicitors: Tomaras Lawyers (Plaintiff) File Number(s): 2013/117780